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The International Monetary Fund is seeking to more than double its war chest by raising $600 billion in new resources to help countries deal with the fallout of the euro zone debt crisis, but the United States and other countries are throwing up roadblocks.

The International Monetary Fund is seeking to more than double its war chest by raising $600 billion in new resources to help countries deal with the fallout of the euro zone debt crisis, but the United States and other countries are throwing up roadblocks.

The International Monetary Fund is seeking to more than double its war chest by raising $600 billion in new resources to help countries deal with the fallout of the euro zone debt crisis, but the United States and other countries are throwing up roadblocks.

Europe needs to cough up a lot more than $200 billion to the International Monetary Fund before calling on others to boost the international lender's funding capacity to deal with the fallout from the European debt crisis, Canadian Finance Minister Jim Flaherty said on Wednesday.

Italy and Britain called on the European Union on Wednesday to promote steps to boost economic growth and not focus solely on austerity to bring down the debt levels that have thrown the single currency into crisis.

The World Bank warned Wednesday that the global economy is on the cusp of a new financial crisis, one similar in magnitude to the chaos following the collapse of Lehman Brothers in 2008.

Stocks opened little changed on Wednesday as initial enthusiasm over the International Monetary Fund's plan to bolster lending to struggling euro zone nations flagged, but financial shares were boosted after Goldman Sachs quarterly profits topped views.

The International Monetary Fund is estimating it needs to raise up to $600 billion in new resources to lend to countries struggling with the fallout from the growing euro zone debt crisis, IMF sources said on Wednesday.

Stock index futures rose on Wednesday, putting the S&P 500 on track for a second straight advance after sources said the International Monetary Fund wants to boost its lending facility as the Eurozone battles a long-running debt crisis.

The International Monetary Fund is estimating it needs to raise up to $600 billion in new resources to lend to countries struggling with the fallout from the euro zone debt crisis, IMF sources said on Wednesday.

Gold struggled Wednesday to hold recent gains as growing concerns of an imminent Greek default offset hope that Chinese authorities will act to reverse the slowdown of the world's second-biggest economy.

Germany, the only major eurozone member to retain a top-notch credit rating, refused Monday to consider boosting the bloc's rescue fund, while Greece was under pressure to urgently break a deadlock in debt swap talks if it is to avoid an unruly default.

An exit from the euro by Greece appears likelier by the day.

Greece must urgently break a deadlock in debt swap talks triggered by unreasonable demands from its partners, the head of a group of representing its private sector warned on Monday, as Athens raced against the clock to prevent an unruly default.

Greece must urgently break a deadlock in debt swap talks triggered by unreasonable demands from its partners, the head of a group of representing its private sector warned on Monday, as Athens raced against the clock to prevent an unruly default.

The government had enacted a series of cuts to salaries and benefits, while hiking taxes.

Greece must urgently break a deadlock in debt swap talks triggered by unreasonable demands from its partners, the head of a group of representing its private sector warned on Monday, as Athens raced against the clock to prevent an unruly default.

Greece debt talks are at an impasse and concerns are rising that the country will face a hard default within six weeks if a plan is not reached. Greek leaders are set to resume negotiations with private-sector creditors this week with hopes of reaching the base points of a debt deal to avoid national default by a Feb. 23 meeting of Eurozone finance ministers.

Global leaders and businessmen urged Europe on Monday to take fresh steps to resolve its deepening debt crisis, with a top executive of the IMF warning the continent will see a downward spiral of collapsing confidence if no further action is taken.

Europe will see a downward spiral of collapsing confidence if no further action is taken, said David Lipton, first deputy managing director at the International Monetary Fund, urging a pause in monetary tightening for countries in which inflation has eased.

Romanian riot police used tear gas against protesters who threw rocks and set fire to newspaper stands and rubbish bins in central Bucharest in a fourth day of street demonstrations against government austerity measures Sunday.

Talks between Greece and its creditor banks to slash the country's towering debt pile broke down on Friday, with the Greeks warning of catastrophic results if a deal to swap bonds is not reached soon.

Talks between Greece and its creditor banks aimed at avoiding a disorderly default broke down on Friday, with Greeks warning of disastrous results if a bond swap deal is not reached soon.

In Greece a blind and unemployed person receives 700 euros ($896) in monthly disability.

Internet domain name regulators on Monday played down fears by the United Nations and other international bodies that a planned expansion of possible Website addresses could cause them problems, saying safeguards were in place.

Germany and France warned Greece on Monday it will get no more bailout funds until it agrees with creditor banks on a bond swap and pressed for an early deal to avert a potential default in the Eurozone's most debt-stricken nation.

German Chancellor Angela Merkel warned Greece on Monday it would not be possible to give further aid without rapid progress on its second rescue package, including a voluntary write-down on Greek debt held by private creditors.

German exports bounced back in November boosting the country's trade surplus, a sign that Europe's largest economy may avoid a sharp slowdown in contrast to France which is expected to have run up a record trade deficit in 2011.

Signs of improvement in the German and U.S. economies helped offset concerns over the prospects for euro zone debt auctions later this week, lifting the single currency and European shares on Monday.